Wal-Mart shareholder suit over bribery allegations dismissed

The judge ruled Friday that a shareholder lawsuit in Delaware must be dismissed because an Arkansas judge had previously dismissed a similar complaint. Chancellor Andre Bouchard said the Arkansas ruling precluded shareholders from pursuing the Delaware lawsuit.

The lawsuits were prompted by allegations that Wal-Mart's Mexican unit paid millions of dollars in bribes to speed building permits and gain other favors. The allegations spurred federal investigations in the U.S. and Mexico, and a global anti-corruption compliance review by Wal-Mart.

The Arkansas judge said plaintiffs failed to show it would have been futile to demand that Wal-Mart's board address the alleged misconduct before they sued.